Capital Intelligence (CI) has affirmed the ratings of Banque Marocaine pour le Commerce et l'Industrie (BMCI), based in Casablanca, Morocco. The Financial Strength Rating (FSR) is affirmed at 'bbb-'. The FSR is supported by a solid level of capitalisation, improved liquidity, and good loan loss provisioning. The rating is constrained by a high level of non-performing loans (NPLs), low deposit growth and lower returns. BMCI's Long and Short-Term Foreign Currency Ratings are maintained at 'bbb-' and 'a3' respectively. The Outlook for all ratings remains 'Stable'. The Support Rating of '2' is affirmed, reflecting the support and strength of BNP Paribas.
Sunday 31, August 2014 by Robin Amlôt